Exam 9: Contractual Performance and Breach

Morgan signs a contract with Shane agreeing to work with him for a movie.Halfway through the production of the movie,Shane decides to quit as he gets another job as a marketing executive.The printed terms in the contract state that when a breach of contract occurs,the breaching party has to pay $20,000 to the nonbreaching party.The contract also has additional handwritten terms that state that in the event of a party being unable to complete the performance required due to unforeseen,unnatural causes,the breaching party does not have to pay any money to the nonbreaching party.Which of the following statements is true in this situation?

Restitution requires a party to compensate for something that a contracting party is not willing to return.

Matthew wants to buy Brian's car for $3,000.He pays Brian the cash while Brian hands over the car.In this situation,there is a(n)

A similarity between a waiver and a release is that

Great Tires Inc.orders 50 tons of rubber from Bill,a distributor.Bill almost always chooses Ritchie's Rubber Farm over various other rubber plantations as he gets discounted rates.The delivery of the rubber to Great Tires is due on September 1.On August 1,a fire destroys Ritchie's Rubber Farm.Which of the following statements is true in this situation?

Which of the following statements is true of a waiver?

According to the Uniform Commercial Code,a ______ requires a seller to get the goods to be shipped and delivered to a specific place of business designated by the buyer.

What is the parol evidence rule?

Cyra is a musician who is contracted to perform for Vanta Blue,a local pub.Vanta Blue pays her an advance as part of the contract.But Cyra never shows up to perform at Vanta Blue.Vanta Blue sues Cyra for breach of contract and to request an order that Cyra carry out her contractual obligation.Which of the following remedies is most likely to be sought by Vanta Blue in this case?

A condition subsequent in a contract

For a party's nonperformance of contract to be excused because of impossibility of performance,the impossibility must be objective.

What are the various ways in which compensatory damages are calculated?

Anita contracts ValleyHeat Landscaping Corp.to landscape her hotel.Midway through the project,ValleyHeat informs Anita that due to internal issues the company is shutting down.To avoid this from delaying the opening of her hotel and causing her loss in hotel revenue,she contracts another landscaping company to finish the project on time.This scenario is an example of ______.

An employment contract denies payment of a full month's salary if an employee does not clock in 160 hours of work.This is a(n)______.

Kate contracts Ofc Depot Inc.to install air conditioning units for each office in her company.Kate wanted the work to be done in two days,but Ofc Depot took three days to complete the work.Which of the following statements is most likely to be true in this scenario?

Rescission is an equitable remedy granted to a plaintiff as a nominal amount when the plaintiff does not incur any financial damage as a result of breach of contract.

Which of the following states that parties to a complete and final written contract cannot introduce oral proof in court that changes the intended meaning of the written terms?

Provide an example that explains the application of the parol evidence rule.What are UCC gap-filling provisions? Give an example and explain how and why they are applied.

It is illegal for the parties to printed form contracts to type or handwrite additional terms.

Briefly discuss mitigation with an example.